Bursa Malaysia opened higher this morning before declining after the emergence of profit-taking activity, followed by an overnight sluggish performance on Wall Street.
At 9.07am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) benchmark eased 0.45 points to 1,605.69 from 1,606.14 when it closed on Tuesday afternoon.
According to Bernama, the key index opened 3.37 points higher at 1,609.51.
In the broader market, gainers outnumbered losers by 302 to 225 while 359 counters were unchanged, 1,282 untraded and 10 others suspended.
Turnover was 585.24 million units worth RM260.31 million.
On Wall Street, the S&P 500 index was down 0.06%, the Dow Jones was up 0.2% and the Nasdaq was down 0.34%.
According to Malacca Securities Sdn Bhd in its notes, the firm believes sentiment should remain positive despite mixed trading trends on Wall Street and further implementation of the Movement Control Order (PKP) in several states.
"We are of the opinion that the continuous increase in crude oil prices and a clearer timeline for the Covid-19 vaccination program will be the economic focus for recovery.
"As we enter the financial performance reporting season, companies that are sure to record high profits will get more attention," he said.
Among heavyweights, Maybank declined seven sen to RM8.07, PChem declined five sen to RM7.70 while IHH Healthcare was flat at RM5.10.
Meanwhile, Public Bank rose two sen to RM4.24 and Tenaga added five sen to RM9.95.
For the healthiest counters, DGB Asia, Sapura Energy, Velesto and Techna-X rose one sen to 15.5 sen, 14.5 sen, 16 sen and 17 sen respectively while Nexchange and Icon Offshore traded up half a sen each to 54.5 sen and 13 respectively. sen.
On the index board, the FBM Emas Index declined 4.32 points to 11,745.68, the FBMT 100 Index fell 6.17 points to 11,441.32 while the FBM Emas Syariah Index rose 12.4 points to 13,194.56.
FBM 70 decreased 19.84 points to 15,418.45 and FBM ACE declined 78.22 points to 11,273.9.
By sector, the Financial Services Index fell 51.23 points to 15,138.51, the Industrial Products and Services Index declined 0.32 points to 183.97 while the Plantation Index rose 9.42 points to 7,123.68.
